By Thomas F. O'Boyle
"O'Boyle has researched and written a huge ebook that are meant to be necessary analyzing for all CEOs and somebody keen on enterprise ethics." --The Philadelphia Inquirer
"Superb . . . a lively learn of normal electrical, and of its occasionally awesome, occasionally bungling, yet regularly ruthless boss, Jack Welch." --Chicago Sun-Times
With convincing ardour and meticulous learn, Thomas F. O'Boyle explores the forces in the back of normal Electric's upward push to the head of Wall highway, wondering if GE, with leader govt officer Jack Welch on the helm, remains to be "bringing good stuff to life." Welch--explosive, profit-hungry, and pragmatic--catapulted GE's shares to the head, up 1,155 percentage from 1982 to 1997. O'Boyle argues that those awesome effects have come basically with the heavy fee of staff' lives, blighted lower than the tyranny of "Neutron Jack" Welch, so named for his bomb-like skill to cast off employees with no traumatic surrounding operations. in the course of Welch's reign, hard-nosed good fortune tactics--unblinking downsizing, ruthless acquisition negotiations, and the digital abandonment of producing in prefer of the extra glamorous leisure and monetary prone industries--coexist with scandals like price-fixing, pollutants, and safety agreement fraud. guaranteed to spark controversy, this gripping, entire account begs the higher query: Is Jack Welch's GE a version corporation for company within the subsequent century, or is it time to alter the best way the area does enterprise?
"Smoothly written and punctiliously researched." --USA Today
"This publication makes a useful contribution to our figuring out of company the USA. . . . Thomas F. O'Boyle persuades you that GE--Jack Welch's GE--brings undesirable issues to existence. In abundance." --Washington Monthly
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Extra resources for At Any Cost: Jack Welch, General Electric, and the Pursuit of Profit
Westinghouse had followed Welch’s process yet had carried out it poorly. undesirable loans in far more than $5 billion have been written off, the CEO used to be disregarded, and in the summertime of 1993 administrators named a successor, Michael Jordan, to guide the corporate out of its morass. yet even supposing Westinghouse had grew to become clear of its production traditions, the legacy of producing lived on. Jordan, whose historical past was once consulting and the soft-drink and snack-food companies, having spent his occupation at Pepsi and at consultancy at McKinsey & corporation, came across as a lot early on in his tenure. Reflecting on his first yr in place of work in the course of an interview in the summertime of 1994—one 12 months ahead of he bought the CBS tv community, a transaction that will set off the divestiture of all of Westinghouse’s business companies, a renaming of the company to CBS, and a stream of its headquarters to manhattan from Pittsburgh—Jordan stated what he least anticipated and so much underestimated wasn’t the restructuring of the personal loan portfolio or financial institution debt or any of the monetary difficulties Wall highway was once inquisitive about yet fairly “the legacy of difficulties from the prior. ” due to the type of items basic electrical had made—as good because the company’s sprawling measurement and scope, with 1000's of manufacturing facility websites through the world—the importance of its production legacy used to be huge, immense, and Welch needed to commit an inordinate volume of his time to ensuing difficulties. They got here in lots of types: environmental harm performed to former commercial websites; PCBs, the chemical substances and suspected cancer causing agents contained in exactly approximately each electric product synthetic within the usa for almost part a century; the post–Cold struggle cave in of safeguard contracting; and nuclear energy, which for Jack Welch was once essentially the most complicated companies within the Eighties. normal ELECTRIC’S INVOLVEMENT within the nuclear enterprise were a protracted and tortured one. it all started on the shut of global struggle II, while many have been worried to use the untapped capability of the atom. To President Truman, who reviewed fifty warships in big apple harbor on military Day, October 27, 1945, whereas aboard the triumphant USS Missouri, the atom represented a potential technique of controlling “the ocean techniques to our nation. ” To common electrical, which had helped unharness what J. Robert Oppenheimer known as the “radiance of 1000 suns,” the atom represented a brand new and rising undefined, a enterprise it was firm to guide. To Hyman Rickover, then a captain with twenty-three years of naval carrier who was once mothballing ships within the South Pacific, the atom represented a know-how that may propel submarines in addition to his ambition. For 4 a long time, Rickover was once czar of the U. S. Navy’s nuclear software, supervised by means of the federal edifice he created, the dept of Energy’s place of work of Naval Reactors, centered close to the Pentagon in Crystal urban, Virginia. additionally, Rickover, a guy who understood the intricacies of technology in addition to executive, was once one of many founding fathers of a laboratory in upstate ny close to Schenectady, the Knolls Atomic strength Laboratory, that may consultant the Navy’s quest of nuclear propulsion, and have become a serious cog within the military-industrial advanced.